“Oh boy! Assassin’s Creed, Borderlands, Arkham Asylum, and more – on iPad!” Is that what you’re thinking right now?

Prepare to be underwhelmed.

Titled “OnLive Viewer,” the app allows users to watch trailers, see what’s available for streaming to PC, and check out other player’s “Brag Clips,” if you’re into that sort of thing. On the upside, it’s free! On the downside, it doesn’t play games. At all. Also, depending on your timezone, the OnLive app may not have gone live in your region just yet.

In less disappointing news, OnLive (the company, not the console) told The Wall Street Journal (via Engadget) that it plans on rolling out a subscription-based streaming movie service at some point in 2011. We’re expecting the iPad version to let users read two-sentence synopses of the novelizations of select Uwe Boll films.

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